Wed, Feb 01, 2017
Finance Minister Arun Jaitley while presenting Union Budget 2017 gives relief to employees subscribed unser National Pension System (NPS).
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Jaitley said that a common application form for registration, opening of bank and demat accounts, and issue of PAN will be introduced for Foreign Portfolio Investors (FPIs).
A surcharge of 15% will be applicable on income above Rs 1 crore to continue.
Jaitley has already left for Rashtrapati Bhawan and the "budget copies" have reached there too.
After the presentation of Economic Survey on Tuesday, the indices took a hit by closing nearly 1% down.
In the Budget 2015, during the speech, Jaitley had said that the government will reduce the tax rate for the domestic companies from 30% to 25%.
Union Budget 2017 is scheduled to be announced at 11 am on February 1, 2017 by Finance Minister Arun Jaitley. This is a unique budget in many ways as it is the first time in 92 years that there will be no separate railway budget.
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